Penthouse at Spring @ Katong reaps $2.06 mil profit

Robinson Suites is a freehold apartment at 50 Robinson Roadway in the CBD in District 1. The development contains an one tower property 167 condominiums. Units include one- and two-bedroom apartments varying from 484 sq ft to 990 sq ft. There are in addition six penthouse units going from 1,087 to 1,410 sq ft.

One of the most valuable condominium resale deal during the week of Jan 23 to 30 was the deal of a twin penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit fetched $2.92 million ($1,739 psf) on Jan 23. The seller had purchased the unit via the property developer for about $865,000 ($515 psf) in January 2005. Therefore, they earned a profit of $2.055 million (238%) after keeping the unit for 19 years.

The unit marketed on Jan 29 is the very first apartment at Robinson Suites to change hands since last September when a 614 sq ft unit got $1.45 million ($2,363 psf).

Cape Royale condo price

This is one of the most unprofitable resale transaction that has taken place at Robinson Suites to date, based upon records compiled on EdgeProp Research. It overtakes the previous entry losing of $944,000 made by the seller of a 990 sq ft unit that yielded $1.83 million ($1,846 psf) in March 2023.

This is the first resell filed at RiverGate to mark this year. in 2023, the condominium viewed five units switch hands, each one of which were cost-effective transactions. The units, assessing in between 1,539 and 2,088 sq ft, were sold for in between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective sellers made returns ranging from $1.25 million to $2.56 million.

On the other hand, one of the most unprofitable condominium reselling operation during the period in assessment was the transaction of an apartment at Robinson Suites. The two-bedroom unit extending 936 sq ft was yielded $1.8 million ($1,922 psf) on Jan 29. It was bought by the vendor in May 2013 for $2.78 million ($2,972 psf). For this reason, they earned a decrease of near $984,000 (35%) after holding the place for nearly 11 years.

Located in Area 9, RiverGate is a property project that was completed in 2009. It offers 545 units around 3 43-storey blocks. Units consist of a mix of 2- to four-bedroom residences measuring in between 1,023 and 3,918 sq ft.

This is the most worthwhile resell proceeding at Spring @ Katong to date. It surpasses the past log revenue of $1.24 million set last March when a 1,044 sq ft unit yielded $1.85 million ($1,772 psf).

Spring @ Katong is a real estate development on Ceylon Roadway in District 15. The 52-unit development was finished in 2006. It has 2 residential blocks containing two- and three-bedroom units from 990 to 1,701 sq ft. The project is throughout walking distance of the Marine Parade MRT Station on the Thomson-East Coast Line.

The second most profitable flat reselling deal throughout the time in assessment happened at RiverGate. A four-bedroom unit estimating 1,798 sq ft shifted hands for $5.05 million ($2,809 psf) on Jan 29. The seller, who acquired the unit for $3.27 million ($1,820 psf) in February 2010, netted a gain of around $1.78 million (54%) on the transfer after owning the residence for 14 years.